Two more US airlines file for bankruptcy

Delta and Northwest Airlines are the latest to enter Chapter 11 protection


Reeling from low-cost competition and overwhelming debt and pension costs, Delta and Northwest Airlines filed for bankruptcy protection in September, as soaring jet fuel costs in the wake of Hurricane Katrina pushed them over the edge. With the filings, four of the seven largest US airlines will now be operating in Chapter 11 as Delta and Northwest join United Airlines and US Airways.

Given poor recoveries in airline bankruptcies, analysts maintain strong sell recommendations for the cash bond

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